Do you know you can increase "credit score" EXPONENTIALLY if you pay CREDIT CARD bills before "bill generation / statement generation" (i.e within 30 days)?
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CREDIT CARD -> How to keep "credit card account active" when handling multiple credit cards

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Deal Subedar
DEEPANGEORGE

Hey Dimers,


How to keep credit card account active when handling multiple credit cards EVERY MONTH?


I mean 7 recently got totally 7 credit cards (my intention for credit cards is to improve credit score, rewards come after)

I got till now 7ccs from 2023 Oct to Mar 2024

1) Axis Myzone - Oct 2023
2) HDFC Business Money Back - Nov 2023
3) HDFC business UPI Rupay virtual - Dec 2023
4) SBI Simpl Save - Jan 2024
5) IDFC First Wow secure CC - Jan 2024
6) Axis Ace - 15 March 2024
7) Axis Neo rupay - 25 March 2024

So now I want to keep these credit cards active every month, with minimum 1 transaction done in them every month for minimal value.

So I came up with a plan to do fasttag recharge on CRED for Rs.10 and there by earning cashback as well from Re.1 to Rs.5 from CRED

Is there any other better way to keep the credit card statement generated every month on all cards?

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Top Comments
Benevolent Benevolent
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add & verify card in MobiKwik/cheq by paying 2rs which will be auto refunded each time.

Delete & repeat next month.

Deal Subedar Deal Subedar
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Point 3, why the number 9?

Also you can leave your main cards until the statement is generated and pay. The rest of the cards pay soon as you use them.

This way you log spends in the cards and also don't have to worry about missing payments.

Critic Critic
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@Demon_slayer

since some banks like rbl considers even decimal and later charge u for non payment of total due. and also the number 9 is easier to look at and confirm the payment is made.

and as for payment after every transaction, it  requires too much of tracking. and i don't want to waste more than 1 hour in month over these useless cards


19 Comments  |  
7 Dimers
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Benevolent Benevolent
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add & verify card in MobiKwik/cheq by paying 2rs which will be auto refunded each time.

Delete & repeat next month.

Deal Subedar Deal Subedar
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Yes good idea:) 


But let me explain a hypothetical scenario and lets see


When the CC company checks my transaction i done in past on their LTF CC, what will they think if i made just Rs.2 just verification transaction every month? 


I mean wont they think this guy who got offered with "LTF credit card" is just regularly using the offered LTF credit card just as verification purpose and nothing else


So bank internal policy decides NO CREDIT LIMIT EXTENSION:) 


hehehe so will this happen?

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Benevolent Benevolent
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If you prepay the card bills before bill generation and no bill is generated on your credit card, then the credit card company will send zero bill amount to the credit agency and that will be determined as non-usage of credit card, so your credit score will may decrease (due to underutilization) or remain same but will not increase due to this reason.

Deal Subedar Deal Subedar
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@flash007

Actually bill is generated even if you prepay full:) as long as you have some transaction the bill is generated:)

I have 2 months of bills like that from axis:) even after full payment:)

hmm are you sure? about this? 

What Happens If I Pay My Credit Card Early? - Experian

check from Experian international website:) they say the opposite (of paying bill in full before statement date is good)

Excerpt:

When Is the Best Time to Pay My Credit Card Bill?
The only bad time to pay your credit card bill is after your payment is due—a mistake that can have significant negative repercussions for your credit score. But paying your bill in full before your statement closing date, or making an extra payment if you'll be carrying a balance into the next month, can help you cultivate a higher credit score by reducing the utilization recorded on your credit report—and save you some finance charges to boot.

Deal Subedar Deal Subedar
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@flash007

Actually bill is generated even if you prepay full:) as long as you have some transaction the bill is generated:)

I have 2 months of bills like that from axis:) even after full payment:)


hmm are you sure? about this? 

What Happens If I Pay My Credit Card Early? - Experian

check from Experian international website:) they say the opposite (of paying bill in full before statement date is good)

Excerpt:

When Is the Best Time to Pay My Credit Card Bill?
The only bad time to pay your credit card bill is after your payment is due—a mistake that can have significant negative repercussions for your credit score. But paying your bill in full before your statement closing date, or making an extra payment if you'll be carrying a balance into the next month, can help you cultivate a higher credit score by reducing the utilization recorded on your credit report—and save you some finance charges to boot.

Deal Subedar Deal Subedar
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Oh nice thanks for sharing:)
Benevolent Benevolent
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If A Month Has 31 Days Then I Am Paying On 30th Some Amount So It Will Show In Cibil Report Utilisation Under 30% , So Score Won't Decrease

Deal Cadet Deal Cadet
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Put it on autopay every month.. Nominal amount like Rs. 10 to be charged from ur cc every month on a particular date..

By this, ur Statement will generate everymonth, gives boost to cibil  due to payments, low credit utilisation, age of cards


Deal Subedar Deal Subedar
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ah nice idea:) didnt thought this:) hehehe good way

but auto pay only works after bill generation 

so how to make this work?

Deal Cadet Deal Cadet
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Add the cards to Amazon and recharge for Rs 10 on mobile or FastTag.

Deal Subedar Deal Subedar
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Yes i am doing this fasttag thing with CRED:) mentioned in the top:) hehehe so ya we are both on the same boat xD

So i am trying to find other ways:) so you know any other ways?
Critic Critic
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I too have multiple credit card in father name, my, mom and atleast one from every bank. i found that it is too much of hassle to maintain them. i believe i m driving less benefit and too much of unnecessary stress. so i tried to make the maintaining easier in every possible way. here are some of things i did

1. change billing cycle to between 20 to 25. 

2. make payment of all cards on 27th 

3. i pay full statement due with last digit 9. ex. if the statement says i have to pay 35rs, i pay 39rs

4. every three month, i use all cards for 15rs  wallet credit in licious, swiggy, big basket 



Deal Subedar Deal Subedar
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Point 3, why the number 9?

Also you can leave your main cards until the statement is generated and pay. The rest of the cards pay soon as you use them.

This way you log spends in the cards and also don't have to worry about missing payments.

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